The Trump administration is taking a 10% stake in USA Rare Earth as part of a $1.6 billion debt-and-equity investment package to help the company develop a domestic mine and a magnet facility, two sources familiar with the deal told Reuters.

The deal and a separate $1 billion private investment will be unveiled on Monday, and Oklahoma-based USA Rare Earth will host a morning conference call with investors to discuss the terms, according to one of the sources briefed on the plans.

The White House did not immediately respond to a Reuters request for comment. USA Rare Earth declined to comment.

China is the world's largest processor of rare earths, a group of 17 minerals used to make a range of electronics and
 military equipment.

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